How do you pass the cottage on to the next generation and minimize the tax? In this episode of Financial 15 Kevin and Clinton provide a few tips to help reduce the tax on the family cottage.
Kevin and Clinton are both with Becker Orr Wealth Management and are both portfolio managers with Canaccord Genuity Wealth Management. Combined they have over 40 years of experience. In Today's episode they tackle:
0:00 Intro
0:48 Family Discussion
1:46 Figuring Out the Cottage Tax Bill
2:56 Tip 1: Boost Your ACB
5:00 Tip 2: Principal Residence Exemption
8:03 Tip 3: Promissory Note
10:15 Cottage Succession Webinar
Link to our Webinar on Cottage Succession: [ Ссылка ]
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Quick Tips on Cottage Succession - Financial 15
Quick Tips on Cottage Succession - Financial 15
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FinanceInvestingBecker Orr Wealth ManagmentClinton OrrKevin beckerFinancial PlanningCottage SuccessionReduce Tax on Cottageprincipal residence exemption canadaprincipal residence exemptionSuccession planQuick tips on cottage succesionfinancial 15estate planningreal estate successionpassing down propertyfamily cottagepassing down family cottagetips for cottage succesioncottage tax billdeclaring principal residence
